Steward Partners Investment Advisory LLC Sells 571 Shares of PACCAR Inc. $PCAR

Steward Partners Investment Advisory LLC decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 1.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 31,760 shares of the company’s stock after selling 571 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in PACCAR were worth $3,019,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FORA Capital LLC acquired a new stake in PACCAR in the 1st quarter valued at $597,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of PACCAR by 77.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after acquiring an additional 103,664 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of PACCAR by 46.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after acquiring an additional 88,551 shares in the last quarter. Jump Financial LLC increased its position in shares of PACCAR by 757.1% in the first quarter. Jump Financial LLC now owns 55,263 shares of the company’s stock valued at $5,381,000 after acquiring an additional 48,815 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of PACCAR by 177.9% in the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after acquiring an additional 1,677,736 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PCAR shares. Morgan Stanley set a $90.00 price target on PACCAR in a research report on Tuesday, October 21st. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Wells Fargo & Company initiated coverage on shares of PACCAR in a research note on Thursday, November 13th. They issued a “positive” rating and a $106.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, Truist Financial increased their price target on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.54.

PACCAR Trading Up 0.0%

Shares of PACCAR stock opened at $104.95 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The business has a fifty day simple moving average of $98.21 and a two-hundred day simple moving average of $97.31. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a market capitalization of $55.12 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 4.11 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.85 earnings per share. Research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.